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On May 1, AIG issued 9-month notes in the amount of...

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Accounting

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On May 1, AIG issued 9-month notes in the amount of $62.4 million. Interest is payable at maturity Required: Determine the amount of Interest expense that AIG should be record in a year-end adjusting entry for each of the following independent assumptions: (Enter your answers in millions rounded to 1 decimal place (i.e, 10,100,000 should be entered as 10.1).) 1. 2. 3 4 Interest rate 7% 9% 8% 12% Fiscal year-end January 31 October 31 June 30 December 31 Interest expense million million million million

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